e. II, III, IV only 8. If you were to argue that the firm's stock price decreases as the dividend payout decreases, you would be making an argument with MM's dividend irrelevance theory, and _ with the "bird-in- the-hand" theory. a. consistent ; consistent b. inconsistent; consistent c. consistent ; inconsistent d. inconsistent; inconsistent e. the argument above does not make sense; neither theory discusses the stock price